FCharlie Posted December 16, 2016 Posted December 16, 2016 Hi, I own residential rental property 50/50 with a partner. If we sold the property, is there a rule about how it gets reported on taxes? Could either of us choose to report the sale and capital gain to the IRS or do we have to split it 50/50? This property is in the United States.
fareastwarriors Posted January 11, 2017 Posted January 11, 2017 I believe each partner would needs to report their portion of the sale, assuming both names are on everything.
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